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National Credit Union Service Organization

EDUCATION 1ST CREDIT UNION

Jun, 30, 2023 — EDUCATION 1ST CREDIT UNION is a federally insured state chartered credit union headquartered in OGDEN, UT with 1 branch location and about $42.40 million in total assets. Opened 92 years ago in 1932, EDUCATION 1ST CREDIT UNION has about 2,651 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:EDUCATION 1ST CREDIT UNION
Address:
(Main Office)
1250 Country Hills Dr
OGDEN, UT 84403-2560
Phone:(801) 392-4877
Fax:(801) 392-4879
Website:https://e1cu.org
Branches:1 branch locations
Members:2,651
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:67127
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1932
Last Audited:Dec 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$42,399,838
CEO/Manager:Kent M Greenfield
Chairperson:Bruce Christensen

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,094,285
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 20,175,843
 Unsecured Loans 1,899,883
 Other Loans 12,814,212
 TOTAL LOANS 34,889,938
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -217,930
 Land And Building 227,944
 Other Fixed Assets 183,790
 NCUSIF Deposit 387,114
 All Other Assets 0
  TOTAL ASSETS 42,399,838
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 138,997
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 9,694,553
 Regular shares 18,261,607
 All Other Shares & Deposits 9,805,346
  TOTAL SHARES & DEPOSITS 37,761,506
  TOTAL LIABILITIES 37,900,503
 Regular Reserve 0
 Other Reserves 1,855,255
 Undivided Earnings 2,644,080
  TOTAL EQUITY 4,499,335
  TOTAL LIABILITIES, SHARES, & EQUITY 42,399,838
INCOME & EXPENSE  
 Loan Income 984,612
 Investment Income 54,836
 Other Income 201,485
 Total Employee Compensation & Benefits 576,024
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 442,525
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 8,000
 Cost of Funds 127,487
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 247,056
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